Last year, a person wrote 128 checks. Let the random variable x represent the number of checks he wrote in one day, and assume that it has a Poisson distribution. What is the mean number of checks written per day? What is the standard deviation? What is the variance? The mean number of checks written per day is __ (round to three decimal places) The standard deviation is __ (round to three decimal places) The variance is __ (round to three decimal places)
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
Last year, a person wrote 128 checks. Let the random variable x represent the number of checks he wrote in one day, and assume that it has a Poisson distribution. What is the mean number of checks written per day? What is the standard deviation? What is the variance?
The mean number of checks written per day is __
(round to three decimal places)
The standard deviation is __
(round to three decimal places)
The variance is __
(round to three decimal places)
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